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Started By
Message
almost time to buy a condo in Gulf Shores.
Posted on 9/25/08 at 10:36 am
Posted on 9/25/08 at 10:36 am
prices dropping like rocks there.
3
Posted on 9/25/08 at 10:57 am to prplhze2000
quote:
prices dropping like rocks there.
What are you seeing for a one bedroom?
Posted on 9/25/08 at 11:00 am to footballislife
not sure about 1br, but 2 bed 2 bath are around $379K.
Posted on 9/25/08 at 11:02 am to Lou
going much lower than that.
Posted on 9/25/08 at 11:06 am to prplhze2000
in which condo complexes?
Posted on 9/25/08 at 11:08 am to prplhze2000
that's just the first one i saw. my preference is Destin or Fort Walton. No matter, I can't afford it now - i wish i could though.
Posted on 9/25/08 at 11:57 am to Lou
what percentage of beach condo owners rent their condos out ?
Posted on 9/25/08 at 12:53 pm to Zilla
No clue ... I do have friends that own a beachhouse and have a rental company handle everything.
The thing that sucks is that my friends have it for 2 weeks total through out the whole year .. brothers bought it together SO unless they want to see each other for 2 weeks, each of the families actually gets only a week.
Now they do stay in other ocndos BUT if I have my own, I want to stay in my own.
The thing that sucks is that my friends have it for 2 weeks total through out the whole year .. brothers bought it together SO unless they want to see each other for 2 weeks, each of the families actually gets only a week.
Now they do stay in other ocndos BUT if I have my own, I want to stay in my own.
Posted on 9/25/08 at 12:54 pm to tiger91
quote:
I do have friends that own a beachhouse and have a rental company handle everything.
The thing that sucks is that my friends have it for 2 weeks total through out the whole year
Is it really worth it just to have it for a week or two?
Posted on 9/25/08 at 1:16 pm to Cash
quote:
Is it really worth it just to have it for a week or two?
They probably need the income from rentals throughout the year to pay for the note and insurance, etc.
My co-worker has had their's for 10 years or so and they have built up a ton of equity in it, so they are just treating it like an investment. If they ever get it paid off, then they will stop renting it.
I have another co-worker who purchased at the peak a few years ago and they are begging people to rent. Sounds like she is taking a bath on the deal.
Posted on 9/25/08 at 2:42 pm to footballislife
I have a townhouse and stays rented during the Season in Destin. The past four season have been off due to Katrina and economy. Also the season is shrinking. Use to be 13 to 14 good weeks now it is around 10 to 11. I get Snow birds from Jan-April but thats a month rent. I like going over in October.
Considering the prices now it is still a hard note to crack with just rentals. You would have to put down alot to cover the note,insurance,management fees, HOA fees, HOA assesments, Utilities,etc...
Considering the prices now it is still a hard note to crack with just rentals. You would have to put down alot to cover the note,insurance,management fees, HOA fees, HOA assesments, Utilities,etc...
Posted on 9/25/08 at 11:09 pm to prplhze2000
prices dropping like rocks there.
Where can I get information about the Gulf Shores/Orange Beach market and these price drops?
Where can I get information about the Gulf Shores/Orange Beach market and these price drops?
Posted on 9/26/08 at 5:35 am to prplhze2000
You might want to check your flood insurance rates....they can be pretty steep
Posted on 9/26/08 at 7:02 pm to skylane
Again, where can I find info about this price drop. I am making an offer on condo in Orange Beach and need to know what the market is doing.
Posted on 9/26/08 at 9:40 pm to BADtotheXYLEM
quote:
I am making an offer on condo in Orange Beach and need to know what the market is doing.
Seems like you have it backwards to me.
Posted on 9/26/08 at 10:20 pm to Tiger JJ
Posted on 9/27/08 at 12:12 am to tigerskin
I'm making a major purchase, with leverage, and I need to know what the price is.
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